G20plans to develop a common framework to help all countries deal with the risks associated with investing in cryptocurrencies.
G20, Minister of Finance of India Nirmala Sitharaman called for global crypto policies coordinated with the vision set forth by However, Sitharaman believes that the different reforms to be implemented will not help address the global reach of cryptocurrencies.
Sitharaman: We Work to Develop a Collaborative Structure
in Washington DC Peterson Institute of International Economicsspeaking in SitharamanWhile underlining the bankruptcies in the crypto market, he said that a coordinated effort from all jurisdictions is needed.
Commenting on the subject Sitharaman “Given the bankruptcies in the cryptocurrency markets, cryptocurrencies are a very important part of the discussion under the G20 India presidency. We are trying to develop a common structure for all countries to address this issue.”
Sitharaman also G20of Sri LankaAnd Ghana He also touched on the goal of bringing global economies together to combat debt crunch and hyperinflation in smaller economies, such as Sitharaman: “In the G20, there is an opportunity for India to bring all countries together to address the debt crunch in middle-income and low-income countries. Multilateral institutions can offer solutions for countries under debt burden within 3-5 years.
IndiaG20 presidency 30 November 2023It will end in , and there will be about seven months left for the group of 20 countries to carry out comprehensive crypto reforms that can be implemented in their jurisdictions.
Besides these, India‘s unified payments interface with its own payment network (UPI)continues to expand its field of activity.
Finally Singapore‘Fame PayNowfast payment system to allow fast cross-border payments UPI integrated the . During the announcement State Bank of India, Indian Overseas Bank, Indian BankAnd ICICI Bank‘s outgoing remittances, Axis BankAnd DBS Bank IndiaIt was announced that ‘s will facilitate incoming remittances.
